Generics, biosimilars saved the healthcare system $373B in 2021

Generic drugs and biosimilars were designed to be lower-cost versions of brand-name medications and they’ve certainly served their purpose, according to a recent report out of the Association for Accessible Medicines.

In total, generics and biosimilars saved the healthcare system $373 billion in 2021, an increase of about $33 billion from 2020, the report found. Over the last decade, generics and biosimilars saved more than $2.6 trillion.